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Though it may be the nation's smallest state by geographic area, Rhode Island boasts a booming economy for management professionals. Rhode Island's managers earn a mean annual salary of around $138,000, over $16,000 more than the national mean for management occupations. Projections Central expects an increase of over 30,000 jobs to Rhode Island's economy over the next several years. That may not seem like much, but it represents a solid 5.9% job growth rate for the state.
A growing job market and high salaries for managers make Rhode Island an excellent state to earn an online MBA. A degree in business can help graduates secure a job in one of Rhode Island's major industries, which include finance and insurance, healthcare, and hospitality.
Read on to learn more about Rhode Island's economy, potential career paths, and online MBA programs.
Careers and Salaries for MBA Graduates in Rhode Island
Rhode Island boasts a concentration of opportunities in business and business development. According to a study by Battelle Technology Partnership Practice, there are several sectors experiencing rapid economic growth in this state. Some of the largest industries include life sciences, cyber-physical systems, IT software, shipbuilding and maritime defense, design, manufacturing, and tourism. Unsurprisingly, according to the BLS, some of the fastest growing occupations in Rhode Island are in the most popular industries in the state.
MBA students can take advantage of this growth by combining their interest in business with careers that offer the most potential in the coming years. By tailoring your online MBA in Rhode Island to a growing industry in the state, you can increase the likelihood that your skills will serve your company well. Professionals who obtain higher levels of education typically earn more money throughout their lifetimes. By obtaining an MBA, you increase your earning potential. By choosing to strategically concentrate your degree, you can make your experience even more indispensable and gain a competitive advantage in hiring.
Over the next 10 years, growth projections look bright for Rhode Island's economy, making an online MBA in Rhode Island a valuable degree.
|Company||Location||Main Industry||Number of Employees|
|United States Department of Navy||Newport||Education Centers||8,000|
|Rhode Island Hospital||Providence||General Medical and Surgical Hospitals||5,754|
|Brown University Corp. Office||Providence||Higher Education||4,629|
Source: Career One Stop
Due to the growth of Rhode Island's economy, the job market is becoming increasingly competitive. As this competition for jobs continues, you can benefit by making yourself as valuable as possible to employers. Earning an MBA, particularly one concentrated in one of Rhode Island's major industries, can make you a top candidate to hiring managers throughout the state.
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Careers for MBA Grads in Rhode Island
Medical and Health Services Manager
Healthcare ranks among Rhode Island's most important industries, which means that there is a high demand for medical and health services managers. These professionals coordinate activities in healthcare facilities such as public and private hospitals, doctors' offices, nursing homes, and urgent care clinics. They handle a variety of administrative tasks, including supervising staff, determining budgets, keeping records, and making sure that patients receive care in an efficient manner. An MBA gives health services managers useful communication, management, accounting, and organizational skills.
Financial analysts work in many industries, including insurance and financial services. These professionals need a strong knowledge of accounting, economics, statistics, and finance, which they may develop through a Rhode Island online MBA.Financial analysts help individuals and companies invest their money. They research economic trends, analyze a company's financial data, evaluate investment options, and recommend investment strategies. Buy-side analysts work for companies looking to invest, while sell-side analysts handle the sale of investments.
Market Research Analyst
Market research analysts gather data on consumer preferences, demographics, and buying habits to help companies develop marketing tactics. They may research competitors to determine demand, identify possible markets, and develop pricing strategies. Earning an online MBA in Rhode Island may prepare students for jobs in market research, since many leadership roles in the field require a master's degree. Market research analysts must complete coursework in statistics, marketing, and research methods.
Human Resources Manager
Human resources managers oversee compensation, benefits, and recruitment. Human resources managers also facilitate communication between an organization's upper management and its employees. They maintain a productive and safe workplace by listening to complaints and resolving disputes among employees. They need several years of work experience, and some companies require HR managers to hold an MBA or a similar master's degree.
Management analysts, often called management consultants, advise companies on ways to improve efficiency and increase profits. They often work for a management consulting firm that hires analysts out to solve management issues at various organizations. Management consultants analyze financial documents, interview employees, and ultimately present profit-boosting solutions to upper management. Recommendations may include new policies, procedures, or business strategies. Some companies require management analysts to hold an MBA.
MBA Concentrations for Rhode Island Students
Many Rhode Island MBA programs offer students the option to focus their studies in a particular area of business administration. Pursuing a concentration rather than a general MBA can improve your job prospects and allow you to secure more specialized positions.
When choosing your courses, factor in the industries and companies in Rhode Island that demand highly trained business school graduates. You may want to consider building skills and knowledge that will prepare you to work in one of Rhode Island's key industries, such as education, manufacturing, retail trade, finance, or healthcare.
Head to this page to learn about some common MBA concentration options.
Rhode Island's Online MBA Programs
Below you can browse a list of selected online MBA programs in Rhode Island. This list can help you compare business schools and jumpstart your search for the ideal Rhode Island MBA.
Keep in mind that you should only apply to accredited universities. Earning your MBA through an accredited school ensures that you will receive a high quality education and makes it easier to apply for financial aid, find a job, and enroll in further education. Click here to learn more about business school accreditation.
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